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NFT traders increasingly flocking to Solana

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Solana NFTs saw $295 million in volume during April Integration with OpenSea has boosted entire ecosystem Near-zero gas fees and low barriers to entry mean new NFT traders increasingly flocking to Solana Not Okay Bears derivative on Ethereum highlights how far Solana has come NFTs exploded onto the scene in 2021, with $17 billion in… More

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Bitcoin Crypto News

Bitcoin Continues To Slide As Macroeconomic And Geopolitical Anxiety Persist

Bitcoin sank to an intraday low of $39,714.69 on Friday, following a late surge above Wednesday’s critical resistance level of $41,500. BTC was down as traders braced themselves for the lengthy Easter weekend. Bitcoin – the world’s most sought-after digital asset – has fallen about $10,000 from a two-week high of $48,220, its highest level in over four months. However, following weeks of retreats, it looks as though market analysts have identified a stable floor at $39,300, with bulls now attempting to drive prices higher once more. Related Article | Bitcoin Price Plummets Below $40,000 As Crypto Market Tallies $440 Million In Liquidations Bitcoin Feeling The Pressure Concerns about macroeconomic and geopolitical concerns have lingered, keeping some investors away. Russian President Vladimir Putin stated during a news conference on Thursday that peace talks with Ukraine have reached a stalemate. Putin further vowed that Russia’s “military operation” will continue indefinitely. On a technical level, Bitcoin’s 200-day moving average significantly stymied the recent bull run, resulting in a large price fall. Bears currently control the market, and the price is rapidly declining, resulting in a break below the 50-day and 100-day moving averages. The $37K and $34K demand zones represent the next levels of Bitcoin support. If the price holds the short-term significant support level around $37K, it may resume its climb toward the significant resistance level at $45K. BTC total market cap at $752.41 billion on the daily chart | Source: TradingView.com BTC Could Touch $33K If this level is not maintained, Bitcoin’s next stop could be the $33K important demand zone. Bitcoin has lost more than 15% in the last week, prompting one indicator to declare that the market has entered a time of “severe anxiety.” The price decline occurs in the context of a broader downturn in global financial markets, prompted by geopolitical crises and uncertainty over the prospect of the US Federal Reserve tightening monetary policy. Related Article | Price Of Bitcoin Retreats Under $42,000 As Enthusiasm From Miami Event Fizzles Future Still Looks Bright Despite the current dismal performance of Bitcoin, a prominent trader believes that the cryptocurrency’s price might potentially double in the next two years. Peter Brandt made a prediction in response to a tweet from Tuur Demeester, a long-time Bitcoin supporter. According to the latter, following extended periods of consolidation, Bitcoin tends to erupt “like nothing else on this earth.” According to Brandt’s forecasts, Bitcoin may either double in value in two years or continue its streak of sideways trading for an extended length of time. A seasoned trader previously predicted that Bitcoin’s next “rocket stage” will begin in 2024, based on how prior market cycles have unfolded. Featured image from DataDriveInvestor, chart from TradingView.com

Crypto News

Uniswap Launches Product In The Midst Of Lawsuit, UNI Reacts To The Downside

Uniswap’s governance token UNI has been trending to the downside following the general sentiment in the market. The token records a 2% loss during the last day as two major events take UNI holders’ attention and could suggest more downside price action for the short term. Related Reading | Uniswap Registers Yearly Low: Vital Trading Levels To Follow At the of writing, UNI trades at $9.4 with a 6% loss in the past 7-days. Yesterday, news broke about a class action lawsuit against this decentralized exchange (DEX) developer Uniswap Labs, its inventor Hayden Adams, and other major investors in the project. Filed as a class action in the Southern District of New York with Nessa Risley representing the plaintiffs. These people are suing Uniswap Labs and others claiming that they have “unlawfully promoted, offer, and sold unregistered securities” on the DEX. In addition, they claim that Uniswap’s lack of a Know Your Customer (KYC) policy has enabled alleged cases of fraud without the DEX taking measures to prevent these supposed activities. Furthermore, the plaintiff claims the DEX and the defenders have benefited from “undisclosed fees” collected on “every transaction” executed with the platform in an alleged violation of the U.S. Securities laws, according to the document. The plaintiffs also accused the platform of selling scam tokens. These include Rocket Bunny, BoomBaby.io, Matrix Samurai, EthereumMax, and others. The plaintiffs claimed these tokens failed to file a registration with the U.S. Securities and Exchange Commission (SEC). Uniswap is a decentralized exchange running on Ethereum and operating under a governance model controlled by UNI holders. Unlike centralized exchange it is permissionless, and its smart contracts respond to no centralized authorities for the benefit or detriment of any party. According to the document filed with the court, Risley and the other plaintiffs were not familiar with Uniswap. At least, the document suggests they have little experience trading on the platform before incurring alleged “substantial losses” which led to their lawsuit. Uniswap lawsuit has me rolling. She needed consistent disclosures to figure out that "Rocket Bunny Token" and "BoomBaby" and "Matrix Samurai" were not legitimate, sensible investments. 💀💀💀 pic.twitter.com/N1qq8uoZnz — Cobie (@cobie) April 14, 2022 Uniswap Releases New Product Less than 24 hours after the class action was filed, Uniswap Labs launch a Swap Widget feature to allow users to “seamlessly swap tokens anywhere across the web”. The dApp is accessible via certain platforms, such as Open Sea and Oasis. 1/✨ Today, we're excited to announce the launch of the Swap Widget which allows users to seamlessly swap tokens anywhere across the web 🙌 Find the Widget already on your favorite apps like @opensea, @FWBtweets, & @oasisdotapp pic.twitter.com/SzQ95t5sEs — Uniswap Labs 🦄 (@Uniswap) April 14, 2022 The product is part of an Uniswap expansion initiative which is aim at providing “everyone” with access to “fair, open, and transparent markets”. The Widget is supposed to be easy to integrate by developers as it would only require “one line of code”. Related Reading | Ethereum At $3028, Where Is The Next Critical Support Level For ETH? The Uniswap community has positively reacted to the announcement. However, the DEX’s native token has trended to the downside, likely due to its correlation with Bitcoin and other larger cryptocurrencies.

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Blockchain Gaming Metaverse Platform Merges GameFi and DeFi: MetaBlaze Announces Second ICO Round Opens April 20th

Blockchain Gaming Metaverse Platform Merges GameFi and DeFi: MetaBlaze Announces Second ICO Round Opens April 20th

MetaBlaze Token (MBLZ) has officially announced the opening date of its second ICO phase, set to begin on April 20th at 12pm UTC. Having quickly closed its first ICO round after hitting the $1.5M hard cap in a few days, this presents the final opportunity to purchase MetaBlaze (MBLZ) at lower entry points before listing […]